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Call Squad Transcript 8 17

Call Squad Transcript 8 17

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Published by thecallsquad
8.17.11
The Call Squad
8 pm – Midnight EST Sunday - Thursday
1-760-569-7676 Participant Pin: 637255# TheCallSquad.com
Our Thanks To Love’s Love (Scott) Who Transcribed This Call
8.17.11
The Call Squad
8 pm – Midnight EST Sunday - Thursday
1-760-569-7676 Participant Pin: 637255# TheCallSquad.com
Our Thanks To Love’s Love (Scott) Who Transcribed This Call

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Published by: thecallsquad on Aug 18, 2011
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8.17.11The Call Squad8 pm Midnight EST Sunday - Thursday1-760-569-7676 Participant Pin: 637255# TheCallSquad.comOur Thanks To
Love’s Love (Scott)
Who Transcribed This Call
The Call Squad
August 17, 2011
Episode 77Patriot, Joey, Vic, Tim, Scott, Steve, Diana, Deb, Pam, Yukon
 Patriot describes a variety of missions, objectives, style, sources, and intentions of the squad that can beheard at the beginning of every call replayed on the website:www.thecallsquad.com. See very interestingfree documents and downloads often referred to on calls, for your edification. Especially look for our 
‘Freedom From Intel’.
This is an official document which is the Unclassified US State Dept. report called
‘The Iraq Project’.
It has been the
 
 blueprint for rebuilding Iraq written in 2002. They are still followingthis plan very specifically, so there is no need for rumors or high placed contacts with so-called intelligence.This is the plan and we help you analyze the news media reporting the steps as they are completed. Send allcomments or questions tocomments@thecallsquad.com. The Call Squad broadcasts: Sunday thru Thursday, 8pm to Midnight EST, even after the RVOr call for 
Replays
of every night’s calls:
760-569-7699, pin 637255# or Backup 194924#Patriot
emphatically sets the record straight once and for all that
rumors of The Call Squad charging feesis NOT true.
The Call Squad is planning extensive post RV calls to help listening audiences with trainingand educational broadcasts for cashing out strategies and investments and there will be no fees. Thesegeneral calls will be free. Patriot asks for help in stopping this rumor by correcting anyone you know or hear continuing that mistaken information from spreading further. Patriot expresses significant intensity about being misquoted and insists that any misrepresentation be stopped. Nothing will be taken away or charged,if you want free information, have it your way, like Burger King.For future consideration, if you want access to more than just general news analysis about topics that havespecific modules or specific guidance in the form of a
Knowledge Based Cooperative
that would includeaccess to expert professionals in addition to The Call Squad moderators; we are listening to our audiences,compiling a list of emailed topics that could be produced and offered. There is a possibility that additionalservices could be offered in the future which may require a fee, but that would not replace or eliminate theFREE part of our general information service.Download/Playback 
Diana
reads a short article:
 
Iraqi Central Bank Consultant: soon to issue currency, a 100 thousand dinars
Palm - An adviser to the CBI the appearance of Mohammed Saleh, said that the Iraqi currency needed to expand and we will issuea currency of a 100 thousand dinars.Saleh added in a press statement that the central bank is considering the idea of re-structuring of currency in terms of specificationsand forms so we will work to issue new categories of the coin have the ability to shorten quantities large financial aid, pointing outthat trading continued to use the $100 is the biggest proof of the urgent need for the currency of this size.Salehi, and that the process of lifting of the zeroes needs time and official approval from the government and parliament, addingthat the moment is Muhio to delete the zeros from the currency.http://nakhelnews.com/pages/news.php?nid=4366
 
Vic
: Muhio is referring to a date with a holiday, likely Ramadan. It could also be a saint or prophet of their religion. As if to say, “…beyond that, it’s in the hands of Muhio (this saint)”.
Joey
wrapping around Diana’s: Dinar Daddy article:
Warning Of The Effects Of The NewCurrency To Be Negative and Strict Procedures
AUGUST 17TH, 2011 05:33 PM · POSTED IN NEWS (IRAQ & WORLD CURRENCY)The Central Bank of Iraq is heading towards the printing of new currency after deleting three zeros had announced last year, bank expert warned of dire consequences may result from this process in the event of failure to take tough measures to reduce theseeffects.It is useful to note that many countries already in Iraq go through such experience and has taken measures capable of maintainingthe real value of cash Btabath ancient and modern, while stability of the edition of modern Turkey, Brazil and many countries of the world have experienced deleting three zeros, but managed to limit effects caused by the experience.The expert said that the bank change the currency by removing three zeros will lead to disastrous effects if the monetary authorityhas not taken firm action to reduce them.The executive director of the Association of Iraqi private banks Aziz Hassoun in an interview for (economic morning) that all theinternational experiences have passed this stage, such as Brazil and Trkiyao other countries, resulting in side effects and affectedeven the general level of prices towards the ascent, which led to the decline in the purchasing power of the currency.He stressed the need for the Central Bank of Iraq to take strict measures to strengthen the capacity of the decision to maintain thevalue of the cash by creating the required balance in the value of cash between the two currencies.Goldfinch warned of the instability of the exchange rate to act firmly to maintain the exchange rate equilibrium does not prejudicethe value of currency in circulation of two currencies, and monitor the behavior of speculators who are trying to exploit thecircumstances, as happened with the beginning of the occupation when you change the currency, where excelled others in the fieldof forging the new currency and the creation of differences between the categories of cash in the discharge and other tricks andmanipulation, stressing that the experience was harsh and effects found so far by the launch of the decision to convert withoutfollow-up time.On the possibility of the banking sector in creating awareness about the value of the required cash said that the banking sector onBakiem notify customers of their currencies at the time of entry into force of the decision.He said it is important how to deal ministries and government departments and the private sector to the new situation and carry theresponsibility of creating a citizen’s confidence in a strong new currency and the new reality, through their actions and dealingswith the new publication.He stressed the need to study the reality of salaries and wages and maintenance of the required balance so as not to reflect theimpact on the purchasing power of the citizen in case of a change of currency and without prejudice to acquired rights of staff andworkers. He called the central bank to the need to control the exchange rate effective tool in achieving the required balance andmaintain the value The real criticism of the new, stressing the need to address the counterfeiting of currency.
 
He concluded his speech (economic morning) the need for a CBI ability to perform not only make decisions and the formation of work teams have the ability to address all possible effects of treatment and their pace consistent and sustained follow-upimplementation of the resolution and it may accommodate effects caused by the experience of the new edition after the occupationand painful effects that remain even now.The Iraqi Central Bank has approved a change the old currency after deleting three zeros and make them carry printed in threelanguages for the purpose of submitting them to the concerned authorities for approval and ratification, without specifying a datefor circulation.
 
Joey
: Wow, So, when they accept the new currency in transactions on the street or in shops, they should beaware of what it’s worth and how to best handle it with the new reality of changed value.
Patriot
: We could spend 2 days taking this article line by line, and expound or cross reference with others.This expels so many rumors. Like the 3 languages, some say it will never have English on their currency. Itsays here that they will. They’re also talking the word, ‘prejudice’ which dispels the rumor it will LOP.
Joey
: Yea, and they want the people to really understand. That last sentence is a great one, for approval andratification without specifying a date….
Patriot
: I had to laugh, you mean he’s not going to tell us the rate, Joey? I’m going to start a rumor that Iknow the date. Let’em prove that I don’t know it…laughing. From Dinar Daddy, that article is powerfuland covers a lot of ground.
 
Joey
statement: Somebody named Bballs re-quoted the Letter of Intent by Shabibi in an address to the IMFon 3/3/11
Joey
reads:
This is pretty clear "revalue the remaining foreigncurrency" "Diversify currency composition" & "removeexchange restrictions"
 Revalue the remaining foreign currency denominated balance sheet items!
COMPONENTS/RESTRUCTURING TO RV
I have reviewed in some detail the requisite criteria for the restructuring and implementation of the Central government investmentaccounts under the PFM Public Financial management System as mandated by the MOF and coordinated with the IMF & WorldBank. The process is somewhat skewed given that the plan methodology is integrated with the Iraq 2011 Budget which as we allknow has fluctuated pro forma income and production projections with the contributory oil pricing variable. With these in mind,one should also bear in mind that the Iraq economic policy has experienced delays in their capital budget primarily due to the political uncertainties as noted in the IMF report (noted below).The key components of production increases, pricing and large investments in the oil infrastructure have reduced the 2011 budgetdeficit while allowing for an increase in more transparent government finance activities. This trend toward a surplus position in thefollowing years is realistic and will put government finances on a sustainable footing to help rebuild the government’s financials.I believe that the revaluation we are looking for is more than clearly defined and outlined in the letter of intent to the IMF: “
Iraq:Letter of Intent, Memorandum of Economic and Financial Policies, and Technical Memorandum of Understanding”
http://www.imf.org/e.../irq/030311.pdf 1.We have worked with IMF staff to complete the review of exchange laws and regulations and are considering measures to
remove the identified exchange restrictions on current international transactions.
2. In this regard, we formed a Bank Reconciliation Unit that comprises technical level staff from the banks, the CBI and theMinistry of Finance, and with the assistance of Ernst and Young (who were the agents of the Ministry of Finance in the externaldebt restructuring process) to: (i) deal with all legacy external liabilities taking into account the government’s actions in thecontext of Iraq’s external debt restructuring (ii) indentify and propose to write-off non-performing loans to defunct state-ownedenterprises; (iii) propose a course of action for other remaining unreconciled accounts; and (iv) after the balance sheets have beencleaned up,
revalue the remaining foreign currency denominated balance sheet items.
3. The CBI will follow the guidelines to
diversify currency composition
and establish an appropriate duration and credit risk  profile, and build capacity for risk analysis.I encourage everyone to review this letter and contrast its content to the economic reality of revaluation as not just a pipe dream but a documented FACT as outlined.http://www.imf.org/e.../irq/030311.pdf FOR THOSE WHO STILL DON'T UNDERSTANDhttp://help.sap.com/...106/content.htm Read more:http://dinarvets.com/forums/index.php?/topic/70800-revalue-the-remaining-foreign-currency-denominated-balance-sheet-items/#ixzz1VOISpnE9
Joey
 
Summarizes & Paraphrases
above article: The article pointed out a couple things that Shabibi wroteto the IMF in an
 Iraq Letter of Intent and Memo of Economic and Financial Policies and Technical Memo of Understanding.
This comes straight from Shabibi, she begins to read:
we have Worked with the IMF staff to complete the exchange laws and regulations and considering measures to remove theidentified exchange restrictions on current international transactions. Then he talks about banks, relative to dealing with externalliabilities, talking about debt restructuring dealing with banks and their external liabilities. Also, the need to identify and proposeto write-off non performing loans to the defunct state owned enterprises, as well as propose a course of action for other remainingnon-reconciled accounts, (so he’s shoring up the banks and reconciling everything in the bank on balance sheets), then he says thatafter that balance sheet cleanup, this is what he wants to do…and he said he will revalue the remaining foreign currencydenominated balance sheet items and the CBI will follow the guidelines to diversify currency composition and establish anappropriate duration and credit risk profile and build a capacity for risk analysis.
Joey
: I always thought this was such a huge, huge article, I’m glad it was posted again, because I’ve missedlately some of the impact of what he really wrote. He really felt that the accounts he established for DFIfunds would be safer in the USA; he had kept the Iraqi bank out of the jurisdiction of the GOI. He projectedhis thoughts that the Iraqi GDP would be around 12% for 2011, and what he really, really said …he
will

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